Cencora (NYSE:COR) Releases FY24 Earnings Guidance

Cencora (NYSE:COR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $13.30-13.50 for the period, compared to the consensus estimate of $13.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho raised their price objective on Cencora from $192.00 to $224.00 and gave the company a neutral rating in a research report on Monday, February 5th. Citigroup raised their target price on shares of Cencora from $265.00 to $280.00 and gave the company a buy rating in a report on Tuesday. SVB Leerink started coverage on shares of Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target on the stock. Leerink Partnrs reissued an outperform rating on shares of Cencora in a research note on Monday, February 26th. Finally, StockNews.com cut shares of Cencora from a strong-buy rating to a buy rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $233.90.

Cencora Stock Down 0.4 %

Shares of Cencora stock traded down $0.79 on Friday, reaching $223.95. The stock had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. Cencora has a 1 year low of $163.37 and a 1 year high of $246.75. The company has a 50 day moving average price of $238.31 and a 200 day moving average price of $218.93. The company has a quick ratio of 0.52, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. The stock has a market capitalization of $44.67 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.69 and a beta of 0.47.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.65 by $0.15. The firm had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.50 EPS. As a group, equities research analysts forecast that Cencora will post 13.46 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.91%. Cencora’s payout ratio is presently 22.32%.

Insider Activity

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the transaction, the insider now directly owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. Company insiders own 15.80% of the company’s stock.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.